Wedge Capital Management L L P NC Sells 48,679 Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Wedge Capital Management L L P NC lessened its stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 243,005 shares of the specialty pharmaceutical company's stock after selling 48,679 shares during the quarter. Wedge Capital Management L L P NC owned about 0.40% of Jazz Pharmaceuticals worth $29,926,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of JAZZ. Rubric Capital Management LP acquired a new position in shares of Jazz Pharmaceuticals in the second quarter worth about $65,812,000. Pacer Advisors Inc. raised its position in shares of Jazz Pharmaceuticals by 40.7% in the 2nd quarter. Pacer Advisors Inc. now owns 1,820,913 shares of the specialty pharmaceutical company's stock valued at $194,346,000 after purchasing an additional 527,187 shares in the last quarter. Baupost Group LLC MA boosted its stake in shares of Jazz Pharmaceuticals by 52.8% during the 2nd quarter. Baupost Group LLC MA now owns 1,274,248 shares of the specialty pharmaceutical company's stock valued at $136,000,000 after buying an additional 440,552 shares during the last quarter. Millennium Management LLC grew its position in shares of Jazz Pharmaceuticals by 1,808.4% during the second quarter. Millennium Management LLC now owns 450,872 shares of the specialty pharmaceutical company's stock worth $48,122,000 after buying an additional 427,246 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Jazz Pharmaceuticals by 48.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,222,198 shares of the specialty pharmaceutical company's stock worth $130,447,000 after buying an additional 398,549 shares during the last quarter. Institutional investors and hedge funds own 89.14% of the company's stock.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ:JAZZ traded down $1.44 on Friday, reaching $121.18. 388,542 shares of the company traded hands, compared to its average volume of 538,909. The stock has a market capitalization of $7.33 billion, a PE ratio of 17.07, a P/E/G ratio of 0.88 and a beta of 0.56. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74. The company's 50 day moving average is $122.78 and its 200-day moving average is $114.67. Jazz Pharmaceuticals plc has a fifty-two week low of $99.06 and a fifty-two week high of $134.17.

Analyst Upgrades and Downgrades

Several analysts have issued reports on JAZZ shares. Morgan Stanley upgraded Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $140.00 to $175.00 in a research note on Thursday, December 12th. Piper Sandler restated an "overweight" rating and set a $163.00 price objective on shares of Jazz Pharmaceuticals in a research note on Thursday, December 12th. TD Cowen dropped their target price on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $179.00 price target on shares of Jazz Pharmaceuticals in a report on Tuesday, December 10th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $207.00 price objective on shares of Jazz Pharmaceuticals in a research note on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Jazz Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $177.00.

Insider Transactions at Jazz Pharmaceuticals

In other news, CEO Bruce C. Cozadd sold 1,500 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $123.43, for a total transaction of $185,145.00. Following the transaction, the chief executive officer now directly owns 425,525 shares in the company, valued at $52,522,550.75. The trade was a 0.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Neena M. Patil sold 3,700 shares of Jazz Pharmaceuticals stock in a transaction on Friday, November 8th. The shares were sold at an average price of $123.41, for a total value of $456,617.00. Following the sale, the executive vice president now directly owns 33,048 shares of the company's stock, valued at approximately $4,078,453.68. The trade was a 10.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,253 shares of company stock valued at $1,001,434 over the last ninety days. Corporate insiders own 4.20% of the company's stock.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.